Critical Analysis of Current Labour Market Trends
Analyze the current graduate employment opportunities within Human Resources
Within this assignment, I will be examining the current opportunities graduates have in human resources and the trends that affect their chances of employment such as; labour market, the impact of external factors influencing career patterns and how this affects the ethical and cultural issues, the relevant use of competences and professional standards and this affects graduates applying and dealing with the pressures of employment after graduating. In addition, I will be evaluating as a graduate, the positive and negative impacts faced in this market.
Labour Market
Cambridge business dictionary (2011) examines that the labour market is ‘the supply of people in a particular country or area who are able and willing to work, in relation to the amount of jobs available’. The office for National statistics (2012) examined that ‘ The economy has shrank by 0.5% in the second quarter of the year ‘estimating the UK being in recession for the past nine months. The current labour market is having an increasingly negative effect on businesses and employee’s. Unemployment figures have increased over the past decade allowing more people to be on benefits costing the Government more money; The Guardian (2012) has recognized that unemployment figures have risen up to 2.59 million. The Labour Relations Commission (2011) explained that recession leads to significant changes, which cause lasting changes in the way firms, manage human resources and trading unions. Human Resource departments also have a strategic way of dealing with recession to save money within an organization. A study by CIPD (2012) was conducted amongst 117 employers which found that there are various ways to cut costs during the recession; Implementing a salary freeze (13%), Raising employee contribution to healthcare premiums (20%), Increasing benefits communication (32%) and Organization wide restructuring (23%).
The
Within this assignment, I will be examining the current opportunities graduates have in human resources and the trends that affect their chances of employment such as; labour market, the impact of external factors influencing career patterns and how this affects the ethical and cultural issues, the relevant use of competences and professional standards and this affects graduates applying and dealing with the pressures of employment after graduating. In addition, I will be evaluating as a graduate, the positive and negative impacts faced in this market.
Labour Market
Cambridge business dictionary (2011) examines that the labour market is ‘the supply of people in a particular country or area who are able and willing to work, in relation to the amount of jobs available’. The office for National statistics (2012) examined that ‘ The economy has shrank by 0.5% in the second quarter of the year ‘estimating the UK being in recession for the past nine months. The current labour market is having an increasingly negative effect on businesses and employee’s. Unemployment figures have increased over the past decade allowing more people to be on benefits costing the Government more money; The Guardian (2012) has recognized that unemployment figures have risen up to 2.59 million. The Labour Relations Commission (2011) explained that recession leads to significant changes, which cause lasting changes in the way firms, manage human resources and trading unions. Human Resource departments also have a strategic way of dealing with recession to save money within an organization. A study by CIPD (2012) was conducted amongst 117 employers which found that there are various ways to cut costs during the recession; Implementing a salary freeze (13%), Raising employee contribution to healthcare premiums (20%), Increasing benefits communication (32%) and Organization wide restructuring (23%).
The
References: All answers ltd (2011) Management of Human Resources. Available from: (http://blogs.siliconindia.com/HRFORUM/STRATEGIC_ROLE_OF_HR_DURING_RECESSION-bid-68c412fI38161920.html) Brewster et al (2000). World federation of Personnel Management Association: HR Competencies and Professional standards. Available from: http://www.cpm-bk.ch/de/pdf/hr_competencies.pdf [ Accessed 6th December 2012] CIPD (2010) Quarterly Survey Report.Labour Market Outlook (1) 6-8 Garavan, T and McGuire, D (2001) Journal of Workplace learning. Competencies and work place learning: some reflections on the rhetoric and the reality. 13 (4) 148-149. Grossman,R (2007) HR Magazine: New competencies for HR. Available from: http://www.powerfulwords.co.uk/sample-assignments/management/hr-ethics-revision.php http://www.shrm.org/Publications/hrmagazine/EditorialContent/Pages/0607grossman.aspx [Accessed 30th November 2012] Leach, M (2011) Report shows employers prefer work experience to qualifications. Available from: http://www.freshbusinessthinking.com/news.php?NID=10145&Title=Report+shows+employers+prefer+work+experience+to+qualifications - .UMH9Q_mFYXw [Accessed 7th December 2012] Office for National Statistics (2012) Graduates In the labour market 2012. Available from: http://www.ons.gov.uk/ons/dcp171776_259049.pdf. [Accessed 7th December 2012] Priyadarshi, A (2012) Strategic Role of HR during Recession. Salaman,G (1992) Human Resource Strategies.1st Ed. London. SAGE Publications Ltd Salt,J and Millar, J (2011) Foreign labour in the United Kingdom: Current patterns and trends. Siemons, H (2012) Cross-cultural management. 1st Ed. Northampton. University of Northampton. The Gladstone Region (1991) Legislation and Business Operation. Available from: http://www.gladstoneregion.info/Portals/3/GROW/Factsheet%20Legislation.pdf [Accessed Two feet in the sand (2012) Job market to improve by 2013, economists predict. Availablefrom:http://twofeetinthesand.com/news/index.php/2012/05/24/job-market-to-improve-by-2013-economists-[predict/ [Accessed 7th December 2012] http://dictionary.cambridge.org/dictionary/business-english/labour-market- Accessed 14th dec 2012 https://nile.northampton.ac.uk/bbcswebdav/pid-653797-dt-content-rid-492665_1/courses/BUS3010-STD-1213/5239_Focus_graduate_jobs.pdf Accessed 14th dec 2012 http://www.nhsemployers.org/employmentpolicyandpractice/equalityanddiversity/e-d-in-practice/get-to/identifyingtheobjectivesandoutcomes/pages/pest_analysis.aspx http://businesscasestudies.co.uk/logica/using-skills-to-respond-to-the-external-environment/political-factors.html#axzz2F28GGOqP http://www.empxtrack.com/resources/hr-articles/theory-x-and-theory-y-theories-of-employee-motivation/ http://www.cipd.co.uk/NR/rdonlyres/37F2A224-796A-45EF-B199-754A1D67A7D3/0/9781843982593_sc.pdf http://www.cipd.co.uk/hr-resources/factsheets/pestle-analysis.aspx#link_1 http://www.who.int/hrh/en/HRDJ_4_3_04.pdf